Itoham Yonekyu Holdings, Inc. · TSE:2296

Itoham Yonekyu — FY2023 Earnings Presentation

41 slides from Itoham Yonekyu's earnings presentation, May 2, 2024

  1. Slide 1: Financial Results for FY2023

    ITOHAM YONEKYU HOLDINGS INC. （Tokyo Prime : 2296） Financial Results for FY2023 （Ended March 31, 2024) May 02, 2024

  2. Slide 2: Contents

    Contents 01 Earnings Results - Results for FY2023 3-10 - Forecast for FY2024 12-19 02 Supplemental Data 21-27 03 Appendix 29-40 Note: The financial information disclosed by Japanese GAAP and FY2023 shows from Apr 1, 2023 to March 31, 2024. Dividends for the previous fiscal year are calculated based

  3. Slide 3: Summary for FY2023

    01 Summary for FY2023 Earnings Results for FY2023 Consolidated  Sales increased by 3.6%. Ordinary profit was on par with the previous year.  We plan to increase the annual dividend by 125 yen (+5 yen YoY), with a payout ratio of 45.7%. Segment  In the Processed Food Division : Sales increased by

  4. Slide 4: Consolidated Results for the full-year

    01 Consolidated Results for the full-year ※Round off to second decimal places  Sales increased by 32.9 billion yen (+3.6% YoY) due to higher meat prices and price revisions for processed foods.  Ordinary profit increased by 3.9 billion yen YoY in the second half, exceeding the previous forecast by

  5. Slide 5: Processed Food Division: Full-year earnings results

    01 Processed Food Division : Full-year earnings results ※Round off to second decimal places  The Ordinary profit increased by 3.9 billion yen (+76.7%), because the price revisions cover the rise in ingredient and logistics costs. It exceeded our previous forecast. Segment Info FY2023 full year fina

  6. Slide 6: Processed Food Division: Full-year earnings results

    01 Processed Food Division : Full-year earnings results ※Round off to second decimal places  Sales unit prices increased by +5.1% for both Ham & Sausage and Cooked Foods.  The price revisions effects(+13.2 billion yen) have exceeded ingredient, utility and logistics costs (-8.5 billion yen). FY202

  7. Slide 7: Meat Division: Full-year earnings results

    01 Meat Division : Full-year earnings results ※Round off to second decimal places  In the Domestic business, the Ordinary profit increased by +3.8 billion yen due to efforts to improve profitability.  In the Overseas business, the Ordinary profit of the Overseas business decreased due to the lower

  8. Slide 8: Meat Division: Full-year earnings results

    01 Meat Division : Full-year earnings results ※Round off to second decimal places  In the Domestic business, the profitability have improved by strengthening income managements (unit price factor +3.8 billion yen).  In the Overseas business, the profit decreased by -7.2 billion yen due to the lowe

  9. Slide 9: Sale of each country and region for the full-year

    01 Sale of each country and region for the full-year ※Round off to second decimal places  The mainly Overseas Sales was export sales of beef and sheep meat by ANZCO Foods.  Export sales to Europe and North America are growing due to expansion of WAGYU exports business. *billion yen Europe Asia Jap

  10. Slide 10: FY2023 segment change

    01 FY2023 segment change ※Round off to second decimal places  The segment classification was changed due to group re-organization (effective from April 2023).  The previous year's results on this statement are all based on the rearranged figure after the segment change, and it’s different from the

  11. Slide 11: Contents

    Contents 01 Earnings Results - Results for FY2023 3-10 - Forecast for FY2024 12-19 02 Supplemental Data 21-27 03 Appendix 29-40 Note: The financial information disclosed by Japanese GAAP and FY2023 shows from Apr 1, 2023 to March 31, 2024. Dividends for the previous fiscal year are calculated based

  12. Slide 12: Consolidated Forecasts for the full-year

    01 Consolidated Forecasts for the full-year ※Round off to second decimal places  We expect ordinary profit to increase by +0.5 billion yen due to improve basic earning power.  The planned annual dividend is 145 yen (+20 yen YoY). We are planning for a DOE of 3.0%. FY2024 full year financial earnin

  13. Slide 13: Consolidated Results trends for the full-year

    01 Consolidated Results trends for the full-year ※Round off to second decimal places *billion yen Sales Operating profit/margin ratio 横位置：1.6 cm 縦位置：3.0 cm 横位置：13.0 cm 倍率：100% 縦位置：3.0 cm 倍率：100% Ordinary profit/margin ratio Net income/margin ratio 横位置：1.4 cm 横位置：13.0 cm 縦位置：10.9 cm 縦位置：10.9 cm 倍率：10

  14. Slide 14: Processed Food Division: Full-year earnings forecasts

    01 Processed Food Division : Full-year earnings forecasts ※Round off to second decimal places  The Ordinary profit is expected to increase by 0.4 billion yen (+5.0%), because the price revisions and internal improvements cover the rise in ingredient and logistics costs. Segment Info FY2024 full yea

  15. Slide 15: Processed Food Division: Full-year earnings forecasts

    01 Processed Food Division : Full-year earnings forecasts ※Round off to second decimal places  We expect the Gross Margin and SG&A factor increase by +8.0 billion yen annually, due to making steady spread of price revisions.  The ingredient ,utility costs and logistics costs would be increased by

  16. Slide 16: Processed Food Division: Topics

    01 Processed Food Division : Topics ※Round off to second decimal places  Assumption is that price revision effects will catch up with raw material and other cost increases in FY2024.  We will continue to consider implementing price revisions in a timely manner in response to changes in the externa

  17. Slide 17: Meat Division: Full-year earnings forecasts

    01 Meat Division : Full-year earnings forecasts ※Round off to second decimal places  It would be assumed that the Ordinary profit increase by +0.4 billion yen (+2.0%), because due to enhance risk management in domestic business and thorough internal improvements and higher export prices in overseas

  18. Slide 18: Meat Division: Full-year earnings forecasts

    01 Meat Division : Full-year earnings forecasts ※Round off to second decimal places  In the Domestic business, we assume an increase of “Gross Margin,SG&A” factor +1.8 billion yen due to enhance risk management.  In the Oversea business, we assume a decline of -1.1 billion yen due to a decline in

  19. Slide 19: Meat Division: Topics

    01 Meat Division : Topics ※Round off to second decimal places  Domestic business : We strive for profitability improvement throughout enhance risk management.  Oversea business : We continue to implement revenue enhancement. ●The progress of Strengthen income management Efforts to enhance risk man

  20. Slide 20: Contents

    Contents 01 Earnings Results - Results for FY2023 3-10 - Forecast for FY2024 12-19 02 Supplemental Data 21-27 03 Appendix 29-40 Note: The financial information disclosed by Japanese GAAP and FY2023 shows from Apr 1, 2023 to March 31, 2024. Dividends for the previous fiscal year are calculated based

  21. Slide 21: Supplemental Data: Profit/Loss

    02 Supplemental Data : Profit/Loss ※Round off to second decimal places Year Actual Sale of each country and region billion yen billion yen FY2022 FY2023 FY2022 FY2023 Year Year Change Year Year Change Sales 922.7 955.6 +32.9 Sales 922.7 955.6 +32.9 COGS 792.6 823.0 +30.5 横位置：1.1 cm Japan 785.9 cm 81

  22. Slide 22: Supplemental Data: S,G & A Expenses / Non-operational G/L

    02 Supplemental Data : S,G & A Expenses / Non-operational G/L ※Round off to second decimal places S,G & A Expenses Non-operational Gain/Loss billion yen billion yen FY2022 FY2023 FY2022 FY2023 Year Year Change Year Year Change Non-Operational G/L 3.1 3.7 +0.7 Sales 922.7 955.6 +32.9 Non-controlling

  23. Slide 23: Supplemental Data: Balance Sheet

    02 Supplemental Data : Balance Sheet ※Round off to second decimal places billion yen FY2022 FY2023 FY2022 FY2023 Change Change Year end Year end Year end Year end Current Assets 256.5 272.0 +15.6 Total Liabilities 167.5 177.2 +9.7 Cash and Term Deposits 22.7 23.2 +0.5 Current Liabilities 152.9 161.2

  24. Slide 24: Supplemental Data: Cash flow statement

    02 Supplemental Data : Cash flow statement ※Round off to second decimal places billion yen FY2022 FY2023 Year Year Change ①Cash Flow from Operation 3.9 29.4 +25.4 横位置：1.0 cm Income Before Taxes 25.0 22.5 -2.5 横位置：14.2 cm 縦位置：2.8 cm 縦位置：3.2 cm Depreciation 倍率：100% 12.2 12.5 +0.3 倍率：100% Change in Rec

  25. Slide 25: Supplemental Data: Itemized Sales

    02 Supplemental Data : Itemized Sales ※Round off to second decimal places Itemized Sales billion yen Consolidated Processed Food Div. Meat Div. Others FY2022 FY2023 FY2022 FY2023 FY2022 FY2023 FY2022 FY2023 Year Year change Year Year change Year Year change Year Year change Sales 922.7 955.6 +32.9 3

  26. Slide 26: Supplemental Data: Quarterly earnings trends by segment

    02 Supplemental Data ： Quarterly earnings trends by segment ※Round off to second decimal places billion yen Q1 Q2 Q3 Q4 Apr - Jun Jul - Sep Oct - Dec Jan - Mar FY2023 FY2022 FY2023 FY2022 FY2023 FY2022 FY2023 FY2022 Change Change Change Change results results results results results results results

  27. Slide 27: Supplemental Data: FY2024 Full-year earnings forecast details

    02 Supplemental Data ： FY2024 Full-year earnings forecast details ※Round off to second decimal places billion yen H1 H2 Year FY2024 FY2023 FY2024 FY2023 FY2024 FY2023 Change Change Change F'cast results F'cast results F'cast results Sales 477.0 470.1 +6.9 493.0 485.4 +7.6 970.0 955.6 +14.4 Consolida

  28. Slide 28: Contents

    Contents 01 Earnings Results - Results for FY2023 3-10 - Forecast for FY2024 12-19 02 Supplemental Data 21-27 03 Appendix 29-40 Note: The financial information disclosed by Japanese GAAP and FY2023 shows from Apr 1, 2023 to March 31, 2024. Dividends for the previous fiscal year are calculated based

  29. Slide 29: Appendix: Overseas Markets

    03 Appendix ： Overseas Markets Pork Carcass - Denmark Picnic - USA 横位置：0.80 cm 横位置：13.00 cm 縦位置：2.50 cm 縦位置：2.50 cm 倍率：100% 倍率：100% week Pork Bellies - USA Loin - USA 横位置：0.80 cm 縦位置：10.20 cm 横位置：13.00 cm 倍率：100% 縦位置：10.20 cm 倍率：100% 29 ITOHAM YONEKYU HOLDINGS INC. 2024

  30. Slide 30: Appendix: CPI

    03 Appendix : CPI Beef Chicken 横位置：12.50 cm 横位置：0.5 cm 縦位置：2.5 cm 縦位置：2.5 cm 倍率：100% 倍率：100% Pork Processed Meat 横位置：0.5 cm 縦位置：10.60 cm 横位置：12.50 cm 倍率：100% 縦位置：10.60 cm 倍率：100% Date：Ministry of Internal Affairs and Communications 30 ITOHAM YONEKYU HOLDINGS INC. 2024

  31. Slide 31: Appendix: Ham & Sausage Supply

    03 Appendix : Ham & Sausage Supply Domestic Production Imports 横位置：0.33 cm 横位置：11.23cm 縦位置：2.50 cm 縦位置：2.50 cm 倍率：96% 倍率：95% (ton) Apr.-Mar. Apr. May. Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Year 【Domestic】 Domestic FY2022 Volume 47,459 43,605 45,445 45,577 43,462 44,172 43,975 48,036 49,3

  32. Slide 32: Appendix: Ham/Sausage domestic market share

    03 Appendix : Ham/Sausage domestic market share ham/sausage domestic market ham/sausage domestic market Our share Value per 100 monitors year-on-year Average price year-on-year 横位置：17.10 cm 横位置：1.00 cm 横位置：8.90 cm 縦位置：3.00 cm 縦位置：3.00 cm 縦位置：3.00 cm 倍率：104% 倍率：104% 倍率：104% Apr. May Jun. Jul. Aug. Se

  33. Slide 33: Appendix: Wiener domestic market share

    03 Appendix : Wiener domestic market share Wiener domestic market Wiener domestic market Our share Value per 100 monitors year-on-year Average price year-on-year 横位置：17.10 cm 横位置：1.00 cm 横位置：8.90 cm 縦位置：3.00 cm 縦位置：3.00 cm 縦位置：3.00 cm 倍率：104% 倍率：104% 倍率：104% Apr. May Jun. Jul. Aug. Sep. Oct. Nov. De

  34. Slide 34: Appendix: Slice pack of ham, bacon, etc. domestic market share

    03 Appendix : Slice pack of ham, bacon, etc. domestic market share Slice pack of ham, bacon, etc. domestic market Slice pack of ham, bacon, etc. domestic market Our share Value per 100 monitors year-on-year Average price year-on-year 横位置：17.10 cm 横位置：1.00 cm 横位置：8.90 cm 縦位置：3.00 cm 縦位置：3.00 cm 縦位置：3

  35. Slide 35: Appendix: Pizza/Snacks domestic market share

    03 Appendix : Pizza/Snacks domestic market share Pizza/Snacks domestic market Pizza/Snacks domestic market Our share Value per 100 monitors year-on-year Average price year-on-year 横位置：17.10 cm 横位置：1.00 cm 横位置：8.90 cm 縦位置：3.00 cm 縦位置：3.00 cm 縦位置：3.00 cm 倍率：104% 倍率：104% 倍率：104% Apr. May Jun. Jul. Aug.

  36. Slide 36: Appendix: Hamburger steak/Meatball domestic market share

    03 Appendix : Hamburger steak/Meatball domestic market share Hamburger steak/Meatball domestic market Hamburger steak/Meatball domestic market Our share Value per 100 monitors year-on-year Average price year-on-year 横位置：17.10 cm 横位置：1.00 cm 横位置：8.90 cm 縦位置：3.00 cm 縦位置：3.00 cm 縦位置：3.00 cm 倍率：104% 倍率：

  37. Slide 37: Appendix: Processed chicken food domestic market share

    03 Appendix : Processed chicken food domestic market share Processed chicken food domestic market Processed chicken food domestic market Our share Value per 100 monitors year-on-year Average price year-on-year 横位置：17.10 cm 横位置：1.00 cm 横位置：8.90 cm 縦位置：3.00 cm 縦位置：3.00 cm 縦位置：3.00 cm 倍率：104% 倍率：104% 倍

  38. Slide 38: Appendix: Marketed Volume/Ending Stock/Market Price (Beef)

    03 Appendix : Marketed Volume/Ending Stock/Market Price (Beef) Estimated Marketed Volume Estimated Marketed Volume Estimated Ending Stock (Imported) (Domestic) (Imported) ※including meat for processed products ※including meat for processed products ※including meat for processed products 横位置：1.30 cm

  39. Slide 39: Appendix: Marketed Volume/Ending Stock/Market Price (Pork)

    03 Appendix : Marketed Volume/Ending Stock/Market Price (Pork) Estimated Marketed Volume Estimated Marketed Volume Estimated Ending Stock (Imported) (Domestic) (Imported) ※including meat for processed products ※including meat for processed products ※including meat for processed products 横位置：1.30 cm

  40. Slide 40: Appendix: Marketed Volume/Ending Stock/Market Price (Chicken)

    03 Appendix : Marketed Volume/Ending Stock/Market Price (Chicken) Estimated Marketed Volume Estimated Marketed Volume Estimated Ending Stock (Imported) (Domestic) (Imported) ※including meat for processed products ※including meat for processed products ※including meat for processed products ※bone-in

  41. Slide 41: Contact Information

    Contact Information ALT ITO Bldg. 1-6-21, MITA, MEGURO-KU, TOKYO , 153- 8587, JAPAN ITOHAM YONEKYU HOLDINGS INC. Public & Investor Relations Office TEL : +81-3-5723-6889 You can also contact us from the company website. https://www.itoham-yonekyu-holdings.com/english/ The current plans, forecasts, s

Itoham Yonekyu Holdings — FY2023 Earnings Presentation on 6ix